Mentha Oil On MCX Settled Up By 2.16% At 1068.4

Mentha oil on MCX settled up by 2.16% at 1068.4 amid rise in demand in the domestic spot market. Further, tight stocks position on restricted supplies from major producing regions of Chandausi in Uttar Pradesh, too supported mentha oil prices. Total production of mentha oil during the current season is 32,000-34,000 tonnes against preliminary estimates of around 40,000 tonnes, which was estimated in June 2016. Unfavourable weather conditions during harvesting period led to the drop in production. On the demand side, the seasonal demand emerges during winter season, especially from the pharma sector.